Quote:
Originally Posted by Dien Rice
Hi Gordon,
Thanks, that's fascinating!
I know many people consider buying real estate to be a better alternative to putting in the bank. Instead, buy land and lease it out, and (if you buy smart) you should do much better than keeping your money in the bank...
Of course, not everyone buys land with their excess cash. Some people buy other investments, such as expensive watches, antiques, gold, or stocks...
I didn't know that many people prefer commercial property, though! To my understanding, at least here in Australia, with office property you could have longer periods when it's empty... But when a business leases it, they're more likely to stay long term too. (At least that's what I've heard!)
Best wishes,
Dien
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Dien, my classmates were all raised with very similar beliefs and ideas. So, this represents only their limited view opinion...OK?...however...
I did some boots on the ground follow up. Within a 5 mile radius of Downtown Cuyahoga Falls I found.
Dozens of storefronts available, some have been empty for over a year.
Scores of apartment vacancies, and many for sale. Why?
Tons of small commercial rentals out there.
BUT, when I went into the Industrial Parks, every single BIG BOX warehouse type of building was occupied, many with the same lessee from a decade ago. Some, maybe many, were company owned. But for all the ones I knew to be leased, not a single vacancy found.
Your area may differ. What I was told about the BIG Box buildings, was, they can be quickly reconfigured for whatever use is needed, from mfgr to wholesale storage.
So, look for a Best Buy about to go out of biz, maybe get an option on first rights to buy, or long term lease. You won't go begging for businesses to occupy THAT space (as long as you stay away from Retail).
Gordon